Just what is identity theft? As the name suggests, it is the theft of the personal information of another. The theft would be incomplete unless the information was used for some nefarious process, and it is in many different ways.



Mention identity theft and most people think of stolen credit cards. This occurs, but is actually the end result of the theft. Credit card accounts are not the target of most criminals, social security numbers are.

The social security number is the golden egg of identity theft. Why? It can be used to do just about anything financially such as open multiple credit accounts, take loans and so on. Without it, it is practically impossible to do anything.

Another area where social security numbers are being turned into criminal profits is fairly new. Many illegal immigrants are required to show valid social security numbers to hold jobs. Guess where those numbers are coming from.

The reselling of social security numbers has nasty aspect to it. The income from the secondary person appears under your social security number with the IRS. Guess what happens when your tax return figures don't match theirs? A tax audit!

Another area where your social security number can be misused is at the bank. The thief will open a bank account using the number. The thief then writes bad checks against the account until the bank closes it.

Owning the latest mobile phone seems to be a must these days. Signing up for such phone services is simple and indentity theives are famous for doing it. The people at those kiosks in the mall just don't check very closely.

As with any crime, identity theft is not something you want to experience. Unlike other crimes, you rarely realize you are a victim until things are really bad. Theives have bills sent to addresses other than yours, so you don't know it is occuring.

So, how do most people discover they have been hit? They start getting calls from credit bureaus or collection companies. Alternatively, they find all their credit cards shut off and their bank account frozen.

Identity theft is one of the more aggravating crimes out there. If it happens to you, expect to spend months trying to get the mess worked out. Businesses and the government are getting better at dealing with it, but it is still a nightmare.